By 2030, the global supplement market is set to reach $300 billion. As a supplement brand, you probably know how difficult working with your standard payment processor can be, especially if you’re selling supplements online. 

Relevant Health was created to provide brands in the supplement and nutraceutical industries with reliable merchant accounts and payment processing solutions, keeping them fully compliant and operational. 

Power Your Supplement Business with a Reliable Online Payment Solution

It’s nearly impossible to run a successful supplement business without online sales. Maximizing your ROI and generating serious revenue means launching a website or eCommerce storefront, building an online presence, and finding the best way to manage your products, services, or subscription services. 

A supplement merchant account keeps track of your transactions so you can continue generating revenue. 

Unfortunately, some of the most prominent payment processors in the market, including Square, Stripe, and PayPal, do support business in the ‘high-risk’ space. To make matters worse, traditional banks don’t offer much support to online supplement businesses either, making it difficult for them to find avenues to accept credit card payments.

The Benefits of Using a Dedicated Merchant Account for Your Supplement Business

Because supplements are considered ‘high-risk,’ it’s unlikely that you’ll obtain a standard merchant account. Even those businesses that are successful in doing so face the risk of disruption since they’re going against current service policies. 

With high-risk payment processing solutions for supplements, you can conduct your business without worrying about obtaining new customers or losing sales. Relevant Health’s payment processing solutions are ideal for any business selling unique or alternative products you wouldn’t often find in the general retail space. 

Why Are Supplements Considered High-Risk?

While running your online supplement business may not seem like a high-risk venture, the facts show that it poses a greater risk than traditional businesses with a face-to-face transactional nature. 

There are a couple of reasons why major payment processors view the supplement market as high-risk:

• Fraud: A traditional bank is quick to label a market or industry as ‘high-risk’ when fraud becomes an issue. With the deep oversaturation of the supplement market comes a higher-than-usual fraud rate, which even the most compliant businesses have to deal with. 
• Chargebacks: The health and wellness industry has higher chargeback rates than most other industries, making it a riskier collaboration for traditional banks. 
• Production Consumption: Banks often have concerns about supplement companies selling products that their customers consume. These products alone have much higher expectations and risks, which can create even greater hurdles for supplement brands.

Finding Trustworthy Payment Processing Solutions for Your Supplement Brand

Most supplement brands that find their way to Relevant Health share stories about how their original payment processor shut them down. A good majority of them were left exposed to high chargeback rates and fraud because their processor didn’t properly underwrite their business. 

With Relevant Health, you can leave those worries behind. With underwriting in place and deep ties with high-risk banks, we can maintain reliable support for your business’ credit card processing needs. 

Beyond helping you set up a secure gateway and manage your account to retain compliance with changing standards, we often offer lower rates than most processors. If you encounter issues with fraud or chargebacks, we have in-house risk mitigation solutions in place. 

Get in touch with us today to learn more about the application process and how our team at Relevant Health can help your supplement business thrive.